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AT1 Bonds Surge 57% in Record Bull Run

10/1/2025

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Summary

Story summary

Additional Tier 1 bonds are in the largest bull run ever, with rallies in risky bank debt.
A Bloomberg index shows these bonds surged 57% since the low after Credit Suisse's 2023 collapse.
The rally outpaced the 2020 coronavirus rebound, per long-term trend analysis.
Analysts warn the market could overheat, and the analysis excludes pullbacks of 5% or less.

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Story summary

Additional Tier 1 bonds are in the largest bull run ever, with rallies in risky bank debt.
A Bloomberg index shows these bonds surged 57% since the low after Credit Suisse's 2023 collapse.
The rally outpaced the 2020 coronavirus rebound, per long-term trend analysis.
Analysts warn the market could overheat, and the analysis excludes pullbacks of 5% or less.